After the United Nations Development Program (UNDP) considered investment in Afghanistan too effective for controlling economic crisis, officials for the ministry of economy have informed of investment in the country.
According to the ministry, almost 1,079 projects worth $926,376 have been submitted to various sectors for implementation and assessment.
“A large number of investors have returned and invested in various sectors in the country,” said Abdul Latif Nazari, deputy minister of economy.
He said the ministry of economy was working to improve the country’s economic situation so that the people could find opportunities to work in the country.
According to deputy minister of economy, the Islamic Emirate of Afghanistan (IEA) is working on a strategic plan to renovate the country’s infrastructures as Afghanistan has a strategic position.
Nazari further said that with humanitarian assistance provided by the world countries economic situation in Afghanistan has almost improved, adding that with such assistance the country’s increasing economic challenges have not been addressed.
He added that the IEA has spoken with international organizations to encourage them for the construction of infrastructural projects in the country, saying that investment on infrastructural projects is necessary for the improvement of the country’s economy.
“Our effort is to somehow change the humanitarian assistance to development assistance so that the world can invest on Afghanistan’s infrastructures,” deputy minister of economy said, adding that investment on infrastructural projects can help root out poverty in the country.
Meanwhile, deputy general secretary of the United Nations Development Program (UNDP) has said that the suspension of aids can harm Afghanistan’s reconstruction and development program. According to UNDP, humanitarian aids cannot strengthen Afghanistan economy. The UNDP asked for further investment in Afghanistan as increasing investment could help the country improve its economy.
Kanni Wignaraja, Assistant Secretary General and Regional Director of Asia-Pacific at the United Nations Development Programme (UNDP), said that investments are needed to revive Afghanistan’s economy.
Speaking on CNBC, she said Afghanistan’s domestic market is full of small and micro businesses that have created job opportunities for men and women in the country for decades.
“A big part of the UN and UNDP’s effort is [to] jumpstart the local business sector and get that moving because Afghans will feed Afghans. They will produce their own food,” she told the CNBC.
Meanwhile, a number of Afghan experts believe that the main element of the economic crisis in the country is the suspension of development aids and freezing of Afghanistan assets. According to the experts, economic development is not possible without investment in the country.
The Islamic Emirate of Afghanistan leadership has repeatedly asked both national and international investors to invest in Afghanistan as all facilities have been provided for investors to invest in the country. It is worth mentioning that Earlier, OCHA reported that nearly 25 million Afghans are struggling with poverty.
Shukria Kohistani
Investment on infrastructural projects necessary, IEA
